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Ares Management (ARES)

Market Price (6/13/2026): $135.71 | Market Cap: $30.4 BilInvestor Relations Sector: Financials | Industry: Asset Management & Custody Banks

Ares Management (ARES)

Market Price (6/13/2026): $135.71
Market Cap: $30.4 Bil
Sector: Financials
Industry: Asset Management & Custody Banks

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.1%, Dividend Yield is 6.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.9%, FCF Yield is 5.3%

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 39%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27%

Low stock price volatility
Vol 12M is 41%

Megatrend and thematic drivers
Megatrends include Digital & Alternative Assets, and Sustainable Finance. Themes include Private Equity, Private Credit, Show more.

Weak multi-year price returns
2Y Excs Rtn is -31%, 3Y Excs Rtn is -11%

Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 49x

Key risks
ARES key risks include [1] a history of regulatory actions, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.1%, Dividend Yield is 6.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.9%, FCF Yield is 5.3%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 39%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 27%
3 Low stock price volatility
Vol 12M is 41%
4 Megatrend and thematic drivers
Megatrends include Digital & Alternative Assets, and Sustainable Finance. Themes include Private Equity, Private Credit, Show more.
5 Weak multi-year price returns
2Y Excs Rtn is -31%, 3Y Excs Rtn is -11%
6 Expensive valuation multiples
P/EPrice/Earnings or Price/(Net Income) is 49x
7 Key risks
ARES key risks include [1] a history of regulatory actions, Show more.

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/4/2026

Ares Management (ARES) stock has gained about 20% since 2/28/2026 because of the following key factors:

1. Record First Quarter Fundraising Exceeding $30 Billion.

Ares Management reported robust first-quarter 2026 results, highlighted by record fundraising of $30 billion, representing an increase of over 45% year-over-year. This strong capital inflow signals continued investor confidence and growth across the company's platform, positioning it for another record year in fundraising.

2. Significant Direct Lending Origination and Strategic Acquisitions.

The company demonstrated strong operational activity with its Ares Credit funds closing approximately $9.5 billion in U.S. direct lending commitments across 70 transactions during the first quarter of 2026. Additionally, Ares Real Estate Funds moved to acquire Whitestone REIT in a $1.7 billion cash deal announced in April 2026. In May 2026, Ares also established a joint venture with The Scion Group to acquire a $910 million U.S. Student Housing Portfolio. These strategic moves expand its asset base and diversified investment solutions.

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Stock Movement Drivers

Fundamental Drivers

The 22.8% change in ARES stock from 2/28/2026 to 6/13/2026 was primarily driven by a 11.9% change in the company's Net Income Margin (%).
(LTM values as of)22820266132026Change
Stock Price ($)110.51135.7122.8%
Change Contribution By: 
Total Revenues ($ Mil)5,6015,9095.5%
Net Income Margin (%)9.4%10.5%11.9%
P/E Multiple46.348.85.3%
Shares Outstanding (Mil)221224-1.3%
Cumulative Contribution22.8%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/13/2026
ReturnCorrelation
ARES22.1% 
Market (SPY)8.4%47.9%
Sector (XLF)4.2%53.6%

Fundamental Drivers

The -11.7% change in ARES stock from 11/30/2025 to 6/13/2026 was primarily driven by a -13.2% change in the company's Net Income Margin (%).
(LTM values as of)113020256132026Change
Stock Price ($)153.75135.71-11.7%
Change Contribution By: 
Total Revenues ($ Mil)5,3565,90910.3%
Net Income Margin (%)12.1%10.5%-13.2%
P/E Multiple52.048.8-6.1%
Shares Outstanding (Mil)220224-1.9%
Cumulative Contribution-11.7%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/13/2026
ReturnCorrelation
ARES-12.3% 
Market (SPY)9.2%48.2%
Sector (XLF)0.9%52.7%

Fundamental Drivers

The -15.3% change in ARES stock from 5/31/2025 to 6/13/2026 was primarily driven by a -36.2% change in the company's P/E Multiple.
(LTM values as of)53120256132026Change
Stock Price ($)160.13135.71-15.3%
Change Contribution By: 
Total Revenues ($ Mil)4,2665,90938.5%
Net Income Margin (%)10.3%10.5%2.7%
P/E Multiple76.648.8-36.2%
Shares Outstanding (Mil)209224-6.6%
Cumulative Contribution-15.3%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/13/2026
ReturnCorrelation
ARES-15.8% 
Market (SPY)27.3%50.4%
Sector (XLF)6.3%55.3%

Fundamental Drivers

The 70.2% change in ARES stock from 5/31/2023 to 6/13/2026 was primarily driven by a 87.4% change in the company's Total Revenues ($ Mil).
(LTM values as of)53120236132026Change
Stock Price ($)79.72135.7170.2%
Change Contribution By: 
Total Revenues ($ Mil)3,1545,90987.4%
Net Income Margin (%)6.8%10.5%54.1%
P/E Multiple66.148.8-26.2%
Shares Outstanding (Mil)179224-20.1%
Cumulative Contribution70.2%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/13/2026
ReturnCorrelation
ARES69.2% 
Market (SPY)84.5%63.5%
Sector (XLF)76.3%62.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
ARES Return78%-13%80%53%-6%-17%232%
Peers Return81%-28%60%52%-2%-17%157%
S&P 500 Return27%-19%24%23%16%8%97%

Monthly Win Rates [3]
ARES Win Rate67%58%75%83%58%50% 
Peers Win Rate73%30%65%70%47%40% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
ARES Max Drawdown-17%-36%-15%-13%-40%-44% 
Peers Max Drawdown-16%-44%-23%-17%-37%-33% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: BX, APO, KKR, CG, BAM. See ARES Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/12/2026 (YTD)

How Low Can It Go

EventARESS&P 500
2025 US Tariff Shock
  % Loss-36.3%-18.8%
  % Gain to Breakeven57.0%23.1%
  Time to Breakeven112 days79 days
2023 SVB Regional Banking Crisis
  % Loss-14.4%-6.7%
  % Gain to Breakeven16.8%7.1%
  Time to Breakeven31 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-30.9%-24.5%
  % Gain to Breakeven44.7%32.4%
  Time to Breakeven70 days427 days
2020 COVID-19 Crash
  % Loss-44.1%-33.7%
  % Gain to Breakeven78.8%50.9%
  Time to Breakeven114 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-24.8%-19.2%
  % Gain to Breakeven33.0%23.8%
  Time to Breakeven53 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-20.1%-3.7%
  % Gain to Breakeven25.1%3.9%
  Time to Breakeven58 days6 days

Compare to BX, APO, KKR, CG, BAM

In The Past

Ares Management's stock fell -36.3% during the 2025 US Tariff Shock. Such a loss loss requires a 57.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventARESS&P 500
2025 US Tariff Shock
  % Loss-36.3%-18.8%
  % Gain to Breakeven57.0%23.1%
  Time to Breakeven112 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-30.9%-24.5%
  % Gain to Breakeven44.7%32.4%
  Time to Breakeven70 days427 days
2020 COVID-19 Crash
  % Loss-44.1%-33.7%
  % Gain to Breakeven78.8%50.9%
  Time to Breakeven114 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-24.8%-19.2%
  % Gain to Breakeven33.0%23.8%
  Time to Breakeven53 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-20.1%-3.7%
  % Gain to Breakeven25.1%3.9%
  Time to Breakeven58 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-39.6%-12.2%
  % Gain to Breakeven65.4%13.9%
  Time to Breakeven213 days62 days
2014-2016 Oil Price Collapse
  % Loss-34.9%-6.8%
  % Gain to Breakeven53.6%7.3%
  Time to Breakeven192 days15 days

Compare to BX, APO, KKR, CG, BAM

In The Past

Ares Management's stock fell -36.3% during the 2025 US Tariff Shock. Such a loss loss requires a 57.0% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Ares Management (ARES)

Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets. Its Direct Lending Group segment provides financing solutions to small-to-medium sized companies. The company's Private Equity Group segment focuses on majority or shared-control investments primarily in under-capitalized companies. Its Real Estate Group segment invests in new developments and the repositioning of assets, with a focus on control or majority-control investments; and originates and invests in a range of self-originated financing opportunities for middle-market owners and operators of commercial real estate. The firm was previously known as Ares Management, L.P. Ares Management Corporation was founded in 1997 and is headquartered in Los Angeles, California with additional offices in the United States, Europe and Asia. Ares Management GP LLC is the general partner of the company.

AI Analysis | Feedback

1. Ares Management is like a Blackstone or KKR, but as an alternative asset manager specializing in credit, private equity, and real estate.

2. Think of Ares Management as an investment firm similar to Apollo Global Management, but focused on managing a diverse portfolio of private market investments including direct lending, private equity, and real estate.

AI Analysis | Feedback

Ares Management (ARES) provides the following major services:

  • Tradable Credit Funds: Manages various investment funds focused on tradable and non-investment grade corporate credit markets.
  • Direct Lending: Offers financing solutions to small-to-medium sized companies.
  • Private Equity Investments: Makes majority or shared-control investments primarily in under-capitalized companies.
  • Real Estate Equity Investments: Invests in new developments and the repositioning of commercial real estate assets.
  • Real Estate Debt Investments: Originates and invests in financing opportunities for middle-market commercial real estate owners and operators.

AI Analysis | Feedback

Ares Management Corporation (ARES) primarily serves a diverse set of customers across its various investment groups. Based on the provided description, its major customers can be categorized as follows:

  • Institutional Investors: These are entities that provide capital to Ares's funds and separately managed accounts. They include large organizations such as pension funds, endowments, foundations, sovereign wealth funds, and other financial institutions.
  • Retail Investors: Individuals who invest in Ares's strategies through publicly traded vehicles and sub-advised funds.
  • Companies and Real Estate Owners/Operators Seeking Capital: This category encompasses the entities that receive financing solutions or investments from Ares. This includes:
    • Small-to-medium sized companies (Direct Lending Group)
    • Under-capitalized companies (Private Equity Group)
    • Middle-market owners and operators of commercial real estate (Real Estate Group)

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Michael Arougheti, Co-Founder, Chief Executive Officer and Director

Michael Arougheti is a Co-Founder of Ares Management Corporation and has served as its Chief Executive Officer and a Director since 2018. He was instrumental in building Ares' private credit business after joining the firm in 2004. Prior to Ares, Mr. Arougheti was employed by Royal Bank of Canada ("RBC") from 2001 to 2004, where he was a Managing Partner of the Principal Finance Group of RBC Capital Partners, focusing on originating, structuring, and executing leveraged deals. Earlier in his career, he held roles at Indosuez Capital and Kidder, Peabody & Co. He is also a co-owner of Major League Baseball's Baltimore Orioles.

Michael McFerran, Executive Vice President, Chief Financial Officer and Chief Operating Officer

Michael McFerran joined Ares Management in March 2015 as Executive Vice President, Chief Financial Officer, and Treasurer. In 2018, he was also appointed Chief Operating Officer. Before joining Ares, Mr. McFerran was a Managing Director at Kohlberg Kravis Roberts & Co. L.P. ("KKR") from 2005, where he served as Chief Financial Officer of KKR's credit business and was the Chief Operating Officer and Chief Financial Officer of KKR Financial Holdings LLC. Prior to KKR, he spent the majority of his career at Ernst & Young LLP in its financial services industry practice. His experience at KKR, a significant private equity firm, involved managing a credit business, aligning with oversight roles in private equity-backed financial operations.

Antony Ressler, Co-Founder and Executive Chairman

Antony Ressler is a Co-Founder of Ares Management Corporation, which he established in 1997. He served as the Chief Executive Officer of Ares until 2018, when he transitioned to Executive Chairman. Mr. Ressler remains a significant individual shareholder and focuses on major client marketing, corporate strategy, and brand building for the firm.

Bennett Rosenthal, Co-Founder and Partner, Chairman of the Ares Private Equity Group

Bennett Rosenthal is a Co-Founder and Partner of Ares Management Corporation, established in 1997. He serves as the Chairman of the Ares Private Equity Group.

Kipp deVeer, Co-President

Kipp deVeer serves as Co-President of Ares Management Corporation. He is also the Global Head of Credit for the firm, overseeing its largest business segment.

AI Analysis | Feedback

Ares Management (ARES) faces several key risks inherent to its business as an alternative asset manager:

  1. Economic Downturns and Market Volatility: As an alternative asset manager with significant exposure to private equity, real estate, direct lending, and non-investment grade corporate credit, Ares Management's performance is highly sensitive to overall economic conditions and market volatility. A significant and prolonged economic downturn could lead to decreased valuations across its private equity and real estate portfolios, increased default rates in its direct lending and tradable credit investments, and difficulty in exiting investments profitably. This would directly impact its management fees and carried interest.
  2. Competition and Ability to Raise Capital: The alternative asset management industry is intensely competitive. Ares Management's growth and profitability are fundamentally dependent on its ability to continually attract and retain investor capital for new and existing funds. Intense competition for investor capital, a failure to demonstrate strong investment performance, or a perceived decrease in the attractiveness of its investment products could hinder its ability to raise new funds. This would limit its assets under management and consequently its future revenue from management fees and carried interest.
  3. Interest Rate Environment: Ares Management's investment strategies, particularly those in direct lending, private equity (which often involves leveraged acquisitions), and real estate, are sensitive to changes in interest rates. Rising interest rates can increase the cost of debt for companies within its private equity and direct lending portfolios, potentially reducing their profitability and increasing their risk of default. Additionally, changes in interest rates can affect the valuation of real estate assets and the cost of associated financing. Conversely, prolonged periods of very low interest rates could also impact returns in certain credit strategies or lead to asset bubbles.

AI Analysis | Feedback

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Ares Management Corporation (ARES) operates in several significant alternative asset markets globally.

Overall Alternative Asset Management Market

The global alternative assets under management (AUM) are projected to reach $24.5 trillion by 2028 and $32 trillion by 2030. In the U.S., alternative investment AUM currently exceeds $20 trillion and is estimated to approach $30 trillion by 2035. Furthermore, alternative assets under management within U.S. wealth management channels could rise to $3.03 trillion by 2029.

Private Equity Group

The global private equity market was valued at approximately USD 6,749.85 billion in 2025 and is projected to grow to USD 20,242.70 billion by 2034. North America held a dominant share of the global private equity market, valued at USD 3,260.08 billion in 2025. Private equity assets under management (AUM) globally are forecast to double from $5.80 trillion in 2023 to $11.97 trillion by the end of 2029.

Direct Lending Group

The global private credit market, which includes direct lending, reached nearly $1.7 trillion in assets under management (AUM) as of 2023 and is forecast to expand to $3 trillion by 2028. Direct lending is now estimated to be between $1.5 trillion and $2 trillion in size globally, with forecasts indicating it will reach $3 trillion by 2028. The North American direct lending market is estimated to be around $1.5 trillion currently and is expected to reach nearly $2 trillion by the end of the decade. According to one analysis, the addressable market for private credit could exceed $30 trillion in the U.S. alone.

Tradable Credit Group (Non-Investment Grade Corporate Credit)

The global corporate bond market size was valued at USD 41.04 trillion in 2025 and is projected to reach USD 101.91 trillion by 2034. High-yield bonds, a significant component of non-investment grade corporate credit, captured 53.99% of the corporate bond market share in 2026, implying a global high-yield corporate bond market of approximately $22.16 trillion (based on 2025 corporate bond market valuation). The high-yield bond market in the U.S. represents approximately $1.5 trillion of the $8.6 trillion public U.S. corporate debt market.

Real Estate Group

Private real estate assets under management (AUM) globally are forecast to reach $2.66 trillion by 2029, increasing from $1.61 trillion in 2023. Global real estate deal value reached $873 billion in 2025.

AI Analysis | Feedback

Ares Management Corporation (NYSE: ARES) is poised for future revenue growth over the next 2-3 years, driven by several strategic initiatives and market tailwinds:

  1. Robust Fundraising and Growth in Assets Under Management (AUM) and Fee-Paying AUM (FPAUM): Ares Management consistently reports strong fundraising across its various strategies and investor channels, including institutional, wealth management, and insurance. The company achieved record fundraising of $113 billion in 2025 and expects another strong year in 2026, which could match or exceed these record levels. This sustained fundraising activity is a primary driver for increasing AUM and FPAUM, directly leading to higher management fees, a significant component of its revenue.
  2. Strategic Expansion into High-Growth Investment Areas and Geographies: Ares is actively expanding its investment platform into high-conviction sectors such as digital infrastructure and renewable energy. The acquisition of GCP International's international business in 2025 significantly broadened Ares' global real estate and digital infrastructure capabilities, providing access to new markets and investment opportunities. Additionally, the firm is prioritizing international expansion, notably in Japan, where it aims to leverage its real estate footprint to grow private credit and infrastructure strategies.
  3. Increased Deployment of Capital ("Dry Powder") and Accelerating Deal Momentum: Ares maintains a substantial amount of uninvested capital, or "dry powder," totaling over $150 billion as of early 2026. The company demonstrated record deployment of $46 billion in the fourth quarter of 2025 and expresses optimism about accelerating deal momentum and a record-high transaction pipeline for 2026, particularly in private credit and real assets. As this capital is deployed, it directly increases fee-paying assets and generates management fees.
  4. Expansion of the Wealth Management Channel: The wealth management channel is emerging as a significant growth driver for Ares. The company reported substantial year-over-year growth in wealth management AUM, which surged 69% to over $66 billion in 2025, fueled by $16 billion in equity flows into semi-liquid wealth products. This channel represents a key area for expanding its investor base and capital inflows.

AI Analysis | Feedback

Share Repurchases

  • As of the end of 2025, Ares Management had $0.4 billion remaining under its $3-billion share repurchase authorization.
  • In February 2025, the company increased its remaining share repurchase authorization to $750 million and extended its plan duration until March 2026.

Share Issuance

  • The Ares Strategic Income Fund significantly expanded its capital base in 2025 through continuous share offerings and new debt issuances.
  • Ares raised over $20 billion in new capital commitments across diverse strategies during Q1 2025.
  • Ares Management has a Dividend Reinvestment Program available for its Class A common stockholders.

Outbound Investments

  • Ares Management completed the acquisition of BlueCove Limited, a London-based systematic fixed-income manager, in early 2026, establishing a new systematic credit strategy. Ares had initially acquired a minority stake in BlueCove in 2023.
  • In March 2025, the company acquired the international business of GLP Capital Partners (excluding its Greater China operations), which added $45.3 billion to Ares' assets under management and broadened its real estate and digital infrastructure capabilities.
  • Ares Management, through its Alternative Credit funds, made a strategic investment in Mereo Insurance Limited in early 2025, marking its entry into the reinsurance market.

Better Bets vs. Ares Management (ARES)

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Ares Management Earnings Notes04/30/2026
2ARES Stock Falls -12% In 6-day Losing Spree On Insider Sale And Sector Headwinds01/28/2026
3ARES Stock Falls -12% In 5-day Losing Spree On Insider Selling and Analyst Caution01/27/2026
4Ares Management Stock Jump Looks Great, But How Secure Is That Gain?10/17/2025
5Ares Management vs AppLovin: Which Is A Better Investment?08/18/2025
6Ares Management vs Coinbase Global: Which Is A Better Investment?08/18/2025
7Better Bet Than ARES Stock: Pay Less Than Ares Management To Get More From LLY, MU 08/12/2025
8ARTICLES 
9How Will Ares Management Stock React To Its Upcoming Earnings?04/30/2026
10S&P 500 Movers | Winners: SNDK, ARES, MU | Losers: ULTA, ADBE, PODD03/14/2026
11S&P 500 Stocks Trading At 52-Week Low03/13/2026
12S&P 500 Movers | Winners: MCK, CPAY, TPR | Losers: EL, COIN, ARES02/05/2026
13S&P 500 Movers | Winners: AES, OXY, MOH | Losers: ARES, WSM, EPAM12/31/2025
Title
0DASHBOARDS
1Ares Management Earnings Notes
2ARES Stock Falls -12% In 6-day Losing Spree On Insider Sale And Sector Headwinds
3ARES Stock Falls -12% In 5-day Losing Spree On Insider Selling and Analyst Caution
4Ares Management Stock Jump Looks Great, But How Secure Is That Gain?
5Ares Management vs AppLovin: Which Is A Better Investment?
6Ares Management vs Coinbase Global: Which Is A Better Investment?
7Better Bet Than ARES Stock: Pay Less Than Ares Management To Get More From LLY, MU 
8ARTICLES
9How Will Ares Management Stock React To Its Upcoming Earnings?
10S&P 500 Movers | Winners: SNDK, ARES, MU | Losers: ULTA, ADBE, PODD
11S&P 500 Stocks Trading At 52-Week Low
12S&P 500 Movers | Winners: MCK, CPAY, TPR | Losers: EL, COIN, ARES
13S&P 500 Movers | Winners: AES, OXY, MOH | Losers: ARES, WSM, EPAM

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Peer Comparisons

Peers to compare with:

Financials

ARESBXAPOKKRCGBAMMedian
NameAres Man.Blacksto.Apollo G.KKR Carlyle Brookfie. 
Mkt Price135.71123.15133.9095.2345.7647.11109.19
Mkt Cap30.496.779.784.916.475.777.7
Rev LTM5,90912,58631,55819,2082,8994,7719,248
Op Inc LTM1,046-7,519490-3,1592,103
FCF LTM1,6134,4257,854317-4,2772,3191,966
FCF 3Y Avg1,7624,1585,7901,741-1,7401,6301,752
CFO LTM1,6794,5457,854478-4,1662,3191,999
CFO 3Y Avg1,8414,2805,7901,878-1,6531,6311,860

Growth & Margins

ARESBXAPOKKRCGBAMMedian
NameAres Man.Blacksto.Apollo G.KKR Carlyle Brookfie. 
Rev Chg LTM38.5%17.5%28.1%-11.2%-16.5%17.8%17.7%
Rev Chg 3Y Avg23.8%44.0%41.0%65.2%32.7%-41.0%
Rev Chg Q28.3%6.2%-9.0%77.6%-47.1%15.1%10.7%
QoQ Delta Rev Chg LTM5.5%1.4%-1.6%14.9%-9.8%3.5%2.5%
Op Inc Chg LTM22.8%-1.3%-47.1%-20.2%10.7%
Op Inc Chg 3Y Avg46.0%-360.6%228.0%--228.0%
Op Mgn LTM17.7%-23.8%2.6%-66.2%20.8%
Op Mgn 3Y Avg20.3%-24.4%7.3%-66.1%22.4%
QoQ Delta Op Mgn LTM1.8%--1.9%0.0%-0.4%0.2%
CFO/Rev LTM28.4%36.1%24.9%2.5%-143.7%48.6%26.7%
CFO/Rev 3Y Avg39.1%41.1%19.1%7.6%-49.2%36.1%27.6%
FCF/Rev LTM27.3%35.2%24.9%1.7%-147.5%48.6%26.1%
FCF/Rev 3Y Avg37.3%39.9%19.1%6.8%-53.0%36.0%27.6%

Valuation

ARESBXAPOKKRCGBAMMedian
NameAres Man.Blacksto.Apollo G.KKR Carlyle Brookfie. 
Mkt Cap30.496.779.784.916.475.777.7
P/S5.17.72.54.45.715.95.4
P/Op Inc29.1-10.6173.2-24.026.5
P/EBIT13.7-12.88.3-21.913.2
P/E48.831.769.635.830.130.033.7
P/CFO18.121.310.1177.7-3.932.619.7
Total Yield8.1%9.5%3.0%3.5%6.4%7.2%6.8%
Dividend Yield6.1%6.3%1.6%0.8%3.1%3.9%3.5%
FCF Yield 3Y Avg6.1%4.2%8.4%1.6%-10.3%2.3%3.3%
D/E0.50.10.20.60.90.10.3
Net D/E0.40.1-3.0-0.90.70.00.1

Returns

ARESBXAPOKKRCGBAMMedian
NameAres Man.Blacksto.Apollo G.KKR Carlyle Brookfie. 
1M Rtn5.6%0.6%-0.8%-4.2%-7.9%-3.7%-2.2%
3M Rtn33.4%16.4%28.7%11.0%1.0%10.9%13.7%
6M Rtn-20.3%-16.8%-8.8%-30.0%-20.5%-10.6%-18.6%
12M Rtn-15.8%-6.4%3.0%-21.0%1.7%-10.5%-8.5%
3Y Rtn57.4%49.7%84.4%70.5%64.0%56.2%60.7%
1M Excs Rtn10.3%3.1%2.3%-1.9%-6.1%-0.3%1.0%
3M Excs Rtn21.2%4.3%16.7%-0.9%-11.1%-1.2%1.7%
6M Excs Rtn-30.3%-27.6%-17.3%-40.3%-30.2%-21.5%-28.9%
12M Excs Rtn-40.4%-33.2%-24.8%-47.1%-24.4%-35.8%-34.5%
3Y Excs Rtn-10.9%-19.6%22.0%4.4%-4.1%-9.3%-6.7%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Credit Group3,1762,7492,3811,6771,392
Real Assets Group995490440685378
Performance income-unrealized7631103051071,744
Secondaries Group33822719318198
Private Equity Group183182194326355
Administrative fees9470636949
Other62442712 
Principal investment income, net of eliminations4845371299
Operations Management Group (OMG)282024258
Net revenue of non-controlling interests in consolidated subsidiaries224363730
Administrative, transaction and other fees of Consolidated Funds eliminated in consolidation-10-1-7-17-4
Performance income of Consolidated Funds eliminated in consolidation-34-28-14  
Management fees of Consolidated Funds eliminated in consolidation-45-47-48-46-45
Acquisition-related incentive fees   048
Incentive fees of Consolidated Funds eliminated in consolidation   -4-5
Unallocated income of Consolidated Funds eliminated in consolidation   -8 
Performance income (loss) reclass    -1
Strategic Initiatives    67
Total5,6013,8853,6323,0564,212


Assets by Segment
$ Mil20192018201720162015
Total assets from Consolidated Funds added in Consolidation9,4558,1416,2313,822 
Private Equity Group1,1239431,2551,218882
Credit Group997730838650 
Real Assets Group468470306233186
Operating Management Group assets1656612074 
Total assets from Consolidated Funds eliminated in Consolidation-194-195-187-168 
Adjusted    2,677
Direct Lending Group    274
Tradable Credit Group    302
Total12,01410,1558,5645,8304,321


Price Behavior

Price Behavior
Market Price$134.90 
Market Cap ($ Bil)30.2 
First Trading Date05/02/2014 
Distance from 52W High-28.2% 
   50 Days200 Days
DMA Price$120.07$140.19
DMA Trenddownup
Distance from DMA12.4%-3.8%
 3M1YR
Volatility41.6%41.2%
Downside Capture122.45208.34
Upside Capture171.68131.58
Correlation (SPY)43.5%50.4%
ARES Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta1.962.171.351.771.681.52
Up Beta0.922.371.141.611.561.42
Down Beta3.871.711.162.331.981.81
Up Capture189%165%162%128%133%276%
Bmk +ve Days13283667141432
Stock +ve Days13253865129406
Down Capture192%298%144%183%160%109%
Bmk -ve Days7132757109318
Stock -ve Days7162559121343

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with ARES
ARES-17.5%41.2%-0.36-
Sector ETF (XLF)6.2%14.7%0.2055.3%
Equity (SPY)24.9%12.3%1.5250.7%
Gold (GLD)25.5%27.4%0.814.5%
Commodities (DBC)30.1%19.0%1.25-10.7%
Real Estate (VNQ)13.5%13.5%0.6927.5%
Bitcoin (BTCUSD)-41.7%42.2%-1.1638.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with ARES
ARES22.3%37.3%0.63-
Sector ETF (XLF)8.8%18.6%0.3564.4%
Equity (SPY)13.5%17.1%0.6169.7%
Gold (GLD)16.8%18.2%0.756.7%
Commodities (DBC)8.4%19.4%0.3312.6%
Real Estate (VNQ)2.8%18.8%0.0550.6%
Bitcoin (BTCUSD)13.6%54.4%0.4431.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with ARES
ARES30.3%36.7%0.83-
Sector ETF (XLF)12.9%22.2%0.5358.0%
Equity (SPY)15.3%17.9%0.7363.8%
Gold (GLD)12.5%16.1%0.645.2%
Commodities (DBC)6.7%18.0%0.2919.2%
Real Estate (VNQ)5.7%20.7%0.2448.9%
Bitcoin (BTCUSD)60.3%66.8%1.0017.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date5292026
Short Interest: Shares Quantity17.0 Mil
Short Interest: % Change Since 51520268.7%
Average Daily Volume2.2 Mil
Days-to-Cover Short Interest7.7 days
Basic Shares Quantity224.0 Mil
Short % of Basic Shares7.6%

Returns Analyses

Earnings Returns History

Updated 6/4/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/1/20261.4%4.9%9.7%
2/5/2026-11.2%0.1%-19.8%
11/3/2025-1.6%-1.4%4.9%
8/1/2025-1.5%0.8%-3.4%
5/5/2025-0.7%7.3%5.1%
2/5/2025-2.9%-4.6%-21.5%
11/1/2024-1.4%5.3%8.1%
8/2/2024-6.6%-6.8%-1.9%
...
SUMMARY STATS   
# Positive111516
# Negative1398
Median Positive3.1%4.9%6.5%
Median Negative-1.6%-2.2%-8.2%
Max Positive8.0%11.5%18.3%
Max Negative-11.2%-6.8%-21.5%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/08/202610-Q
12/31/202502/25/202610-K
09/30/202511/06/202510-Q
06/30/202508/08/202510-Q
03/31/202505/12/202510-Q
12/31/202402/27/202510-K
09/30/202411/08/202410-Q
06/30/202408/07/202410-Q
03/31/202405/09/202410-Q
12/31/202302/27/202410-K
09/30/202311/06/202310-Q
06/30/202308/03/202310-Q
03/31/202305/08/202310-Q
12/31/202202/24/202310-K
09/30/202211/07/202210-Q
06/30/202208/05/202210-Q

Insider Activity

Updated 4/26/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Olian, Judy D DirectBuy2242026124.4348059,7263,699,802Form
2Bhutani, Ashish DirectBuy2102026126.6110,0001,266,1004,313,729Form
3Sagati, Aghili NaseemGeneral CounselDirectSell2062026134.923,921529,03244,104,749Form
4Sagati, Aghili NaseemGeneral CounselDirectSell1262026161.841,849299,23941,215,470Form
5Arougheti, Michael JCo-Founder and CEOAtticus Enterprises LLCSell12012025157.2656,257  Form

Industry Resources

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Core Cache Last Updated: 6/13/2026